Going Digital: Advancing Innovative Solutions

Going Digital: Advancing Innovative Solutions

Insurance is becoming an increasingly digital industry and over the past year Aviva Canada has put its ‘digital first’ strategy at the forefront of its operations. Aviva is focused on disrupting the industry, filling gaps in the insurance market, and providing products that meet the evolving needs of customers.

Ben Isotta-Riches, Chief Information Officer at Aviva Canada was recently interviewed by the Business News Network (BNN) about Aviva’s wider digital and innovation strategy. To watch the full interview, click here.

As part of the interview, Isotta-Riches spoke about Aviva’s corporate venture fund Aviva Ventures. The fund has £100 million to make direct equity investments around the globe, and is coming to Canada for the first-ever Aviva Pitch Day event on October 11, 2016. Through a selection and short-listing process, the top 10 Canadian-based digital startup submissions will pitch to a panel of Aviva advisors and Aviva Ventures MD Ben Luckett in search of potential investment.

“We want to invest in startups that are disrupting the industry and changing the way that people interact with technology and live their lives,” Isotta-Riches said. “We want to see how we can work with these businesses to create value for our 34 million customers around the globe.”

The call for submissions is open until August 26, 2016. Visit avivapitchday.ca to learn more.

According to Isotta-Riches, Aviva is focused on key trends that are currently disrupting the industry – connected cars, homes, and health, data and analytics, distribution, and innovative propositions for customers. He acknowledged the vibrant startup economy in Canada and the importance of collaborating with businesses outside the insurance industry.

“We partnered with the DMZ at Ryerson University to work with the startup community, find ways to support them, and find opportunities for people in our business to experience leading-edge ideas that are being turned into businesses by that community,” Isotta-Riches said.

Aligned with Aviva’s digital first strategy, a new office in downtown Toronto has opened and is being used as a ‘digital development space.’ The location is home to Aviva Canada’s new Digital Division and will be used for web and mobile development for Customers, Brokers and Partner as well as hosting Aviva Pitch Day and other innovative events: https://www.avivadigitaldivision.ca

Aviva has been encouraging internal innovation and idea generation through ‘hackathon’ events, giving employees 24 hours to bring creative ideas and products to life.

Earlier this year, Aviva was also the first insurer to introduce a ride-sharing insurance product for Ontario ride-sharing drivers. This product is available in Alberta as of August 1. “We’re keen to be the company that’s there to help customers as their needs evolve,” Isotta-Riches said.

As the year progresses, Aviva will continue to work with innovators and visionaries to challenge thinking in insurance, and be there for customers as they interact with insurers digitally.